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. i'm susie gharib. with just hours to go a deal emerges to avert the fiscal cliff, but can congress pass the measure in time? president obama says they can, we've got the latest from washington, on what could happen before the new year's day deadline. and wall street ends the year with a rally and healthy gains. s&p strategist sam stovall joins us with where he sees stocks headed in 2013. that and more tonight on "n.b.r."! washington lawmakers are getting close to a fiscal cliff deal, but they might not get it done before the midnight deadline tonight. the senate could vote in time, but it's possible the house will wait until tuesday. that means the u.s. could go over the fiscal cliff. on wall street today, investors bought up stocks on high hopes of deal, after president obama said this afternoon a deal is "in sight," and positive comments from republican leaders in the senate. here's how e major averagesr closed on this last trading day of 2012. the dow surged 166 points, the nasdaq jumped about 60, and the s&p rose almost 24 points. while wall street has already closed the books
. >> a deal won't necessarily pass congress by monday night. if it doesn't, virtually everybody's income taxes will go up. the average family would pay an extra $3,462 in 2014. and farm programs would expire, potentially doubling the price of milk, and if congress doesn't pass new bill? >> we'll come back with a new congress on january 4th and the first bill on the floor will be to cut taxes on middle class families. >> the bargaining continues tonight. >> the fremont please chief has called it quits. he was worked in law enforcement for more than four decade. he will be replaced by the captain. the chief will stay on the job for the next four months to help the transition. >> in two days you'll see new laws take effect in california, one law for private space travel. >> we'll break down this incredible video that show planes crashing into a freeway. >> leigh: i'm leigh glaser. will there be rain for the all-important new year's night? we'll take a look at the >> break new. hillary clinton has been admitted to the hospital with a blood clot stemming from a concussion she received this month. t
think the other important point is dairy and milk products are not compelling to let congress pass a farm bill. we're the first ones out of a gate, which is how it happens, including on holidays. there are other major commodities, including wheat and corn, that would also be affected by reverting ba can to this 1949 law that tom vilsack mentioned. we're the first one to have this happen to our industry, but it certainly won't be the only commodity affected if congress still doesn't bring us a new farm bill with a new year. >> all right. chris galen, thank you so much. appreciate it. have a good new year. hopefully, they'll get something done in congress, and everything will not be double in price when you go'shoing. the new year's eve test run, check it out, a success. >> three, two, one, happy new year. >> that's times square setting for tonight's ball drop. we're going to take you there live. i've always had to keep my eye on her... but, i didn't always watch out for myself. with so much noise about health care... i tuned it all out. with unitedhealthcare, i get information that
's hopeful and optimistic. will congress pass something in the next 48 hours, something? to avoid the fiscal cliff? >> i don't know. but, i guess, probably. and it will be a bad deal but i suppose better than doing nothing. and, every working american's taxes will go up january 1st if they do nothing about the payroll tax, a pretty big increase, and, defense cuts and everyone agrees, with that policy to have middle class americans' taxes go up, and, it totally irresponsible defense cuts and this is what congress thinks is a good deal. >> chris: i'm not sure it is a good deal but avoids the worst of the fiscal cliff. senator bayh -- obviously, we don't know, what is your sense, no filibuster in the senate? you heard lindsay graham and do republicans pass whatever the senate agrees to? >> the odds are somewhat better than 50/50 we get a minimal deal in the senate. not one that solves our debt problem, as you pointed out earlier and this is a prequel to going through it again around the first of march over the debt ceiling and getting us through this crisis, slightly better than 50-50 and the r
, congress members passed similar resolutions in both house and the senate to formally recognize the first 10 days of may as asian-pacific heritage week. one year later, president jimmy carter signed into law a joint resolution to officially designate the annual celebration. 11 years later, president george bush extended the weeklong celebration to an entire month. you know and i know that our mothers say that every day is asian pacific american day. i want to recognize all of the milestones the api has made in the state of california and in the entire country. the caucus has a record of 42 members in the asian caucus in congress. one of their very first things we want to say is it was a young man who was the first member -- we want to make note of that. the reestablishment of the white house initiative by president obama was another accomplishment. president obama's cabinets has dr. steven chu. the very first asian-american -- as ambassador to the republic of china. we have a lot of accomplishments. it was not that accident, my friends. everyone of you know that you work hard. all these thin
to serve in the u.s. congress, and got over 67 bills passed through congress including title seven, head start, national student loan program, but that preacher dr. butts had lifts us to the seventh heaven with his oratory and after the service was over as i followed the platform party out to the foyer of that great cathedral there i looked up and i beheld a beautiful quilt at the center of many other quilts that the quilting ministry of friendship church had put on display, and when i saw that quilt that caught my eye i said to the pastor "dr. clifford jones, i want that quilt. i want that quilt ." dr. jones says "it's yours". when he took me to the car the limousine was there waiting for me and before i close the door i looked at him again and i said "dr. jones i want that quilt". he said "i told you it's yours. i will have my secretary mail it to you .". two weeks later package appeared in my office. my secretary pearl said "here's a package here for you". i looked and saw it was from friendship church, and i opened it and low and behold there was my beautiful quilt, and when i
of this. >> reporter: well, david, they just blew it. it is now clear that congress will fail to pass by midnight tonight something to prevent virtually everybody's taxes from going up. they have known for more than a year that tonight was the deadline and they just blew it. the deadline to prevent that massive $600 billion combination of tax hikes and spending cuts will be missed. but the scramble continues. to try to get a deal done and passed over the next day or two, that would put the tax cuts, at least, back in place retro actively. and today, they sure seemed close to a deal. >> i can report that we've reached an agreement on all of the tax tsh -- the tax issue. >> reporter: and even though the deal was not finalized, the president seemed to take a victory lap today at the white house. >> keep in mind that just last month republicans in congress said they would never agree to raise tax rates on the wealthiest americans. obviously, the agreement that's currently discussed would raise those rates and raise them permanently. >> reporter: it was a campaign-style event. >> i'm going
. >> even if they reach a deal it won't pass congress by monday night. if it doesn't everybody's income taxes will go up. the average family would pay $3,324 would. if congress doesn't passion a new bill? >> we'll come back with a new congress in january 4th and first bill will be introduced on the floor will be to cut taxes on middle-class families. >> the bargaining continues tonight. >> ama: in two dates, new laws to take effect in california. plus, we'll break down the incredible video that shows a plane crashing into a freeway. director of star trek movie is back in the day, we didn't have the u-verse wireless receiver. [ light laugh ] the tv stayed in one place... mmmmhmmmm. ...right next to the upstairs tv outlet. oh yeah. they can move the tv all over the place, even outside. grandpa... mmmhmm? kids have it easy nowadays. [ glasses clink ] i'm trying to tell ya. [ male announcer ] the wireless receiver, only from at&t. get u-verse tv for $29 a month for 6 months. at&t. ♪ >> ama: several new laws will take effect beginning new year's day. one is underage drinking on party buses
expedient but costa to government and will expire in 10 years timing. >> houses of congress have passed the package of tax relief. this will impact the middle-class. the one those cuts were going to expire the u.s. was just emerging from the worst recession since the great depression. he agreed to extend those tax cuts for two more years for congress to extend federal emergency unemployment benefits. those costs are expensive. extending those to 2020, the bush era will be responsible for over one half of the total national debt. democrats insist that tax will go up for the wealthy but stay in place or under $250 k! >> we need to stop the job killing tax hikes and also cut spending, now. >> republicans cannot want to play ball. no more higher taxes on any one or the rich. they say that this ideology should the government as small as possible the rich are as old as governments possible. the main spokesperson is this man, grover norquist. the americans for tax reform. he was almost regenerating all signs from republicans, signatures -- from republicans. this became 2011, when it came to we
whether the senate will vote today. congress could pass it red rho actively. >>> breaking news in prince william county. we have just learned a county police officer died following in fiery crash at the intersays of nobodiesville road and piper lane. officer chris young was riding on a motorcycle at the time. you can see the van was the other vehicle. we're still gathering information about this accident. we'll bring you more throughout the evening. >>> it's been a cold new year's eve so far today. doug kammerer has the forecast for us. >> things looking okay out there. look for a sprinkle, maybe a flurry, but don't expect it to impact your plans. take a look, and the cloud cover continues to make a way in. you can see a lot of what looks like rain and snow back toward the west, but most of this not reaching the ground. the atmosphere just a little too dry. as i mentioned, maybe a sprinkle or flurry. later on, i'll update the exact midnight temperatures. many of those locations all looking pretty good. i'll talk about that coming up, plus how cold will we start off 2013. >>> about a mill
't report on it every year. this happens for years. congress passes fixes to the amt, and the latest one is now being held hostage by all of these negotiations going on with the fiscal cliff. it's sometimes called the wealth tax. it was created back in the 1960s and what it was meant to do was stop rich people from dodging taxes. here the problem. it was never adjusted for inflation, so congress has to go in every year and temporarily raise the income exemption levels. the thing is, it's one of many tax provisions that need to be addressed in these cliff talks. until it is, it means up to 100 million people may not be able it to file their tax returns until late march. there are lots of americans who need to file much sooner than that, and they're the ones that need the money most. low income families with pretty simple returns who rely on refunds to cover, you know, holiday bills or something like security deposits on an apartment. this could really sting them the most. suzanne. >> and alison, this actually happened two years ago when there was a delay for the filing. how did that impac
bills passed by congress this year. this compares to 383 bills passed last year. his approval rating currently stands at a nice round that 18% according to politics average. from the youth list to the downright e'en, a survey from airfare revealed that flyers found -- nearly 25% of the vote. united airlines coming in second with 21% and followed by alta and u.s. airways. the social network suspending its new year's eve messaging tool. it allowed them to read the messages of private users. diane, a big raise. >> that is right. we are watching netflix shares very closely. this comes out after they cut his take last year. the stock is up almost 32% since the start of 2012. reed hastings is doubling his outlook. trading is light as expected. the dow is up 11. the nasdaq is up about 22. the s&p is up about five points. dagen: thousands of small businesses around the country are waiting for the outcome around washington. the results could have a serious impact when it comes to withholding taxes from employees paychecks. jeff flock has more. jeff: take a look at this customer care service c
passed by the last congress, 460 by the one before that. >>> despite that terrible record president obama has signed an executive order giving returning members of congress a 1% raise. >>> and the senate did put in some extra work hours last night but there was some glumbling. one senator said quote this is definitely not a kunbaya moment. >>> now for a look at your new year's eve weather let's turn to bill karins. happy new year's eve morning. >> big day, right? >> it is. going to be a cold one. >> maybe not for i but for everyone it's a cold. a little bit of snow to talk about. no big blockbuster snowstorms. the cold air is the story. easily be the coldest week of the winter season. areas in white winter weather advisories from new mexico, north texas, panhandle of oklahoma across kansas, missouri, southern indiana and illinois this is where light snow is heading your way. winter weather advisory means slippery travel but not a blockbuster event and cancel your events. travel with care especially northern, the panhandle of oklahoma, up through kansas this morning the snow is breaking
in 60 years. 219 bills have been passed. that's compared to 383 bills passed by the last congress. 460 by the one before that. >>> despite that terrible record president obama has signed an executive order giving returning members of congress up to a 1% raise ending a pay freeze going back to 2009. >>> the nature did put in some extra working hours last night but there was some grumbling. one senator said quote this is definitely not a kumbaya moment. and that's your morning dish of scrambled politics. for your new year's eve weather we turn to bill karins. happy new year's eve morning. >> it's a big day, right? >> it is a big day. and a cold one. >> maybe not for you and i but for everyone else it's a fun day. last day of 2012 is very cold. snow to talk about. no big blockbuster snowstorms. the cold air is the story. easily the coldest week of the winter season. in white winter advisories. texas, panhandle of oklahoma, southern indiana and illinois this is where light snow is heading your way. winter weather advisory usually means you'll have slippery travel but not like a blockbuste
of weapons. congress passed a law. states have such laws that they passed. if she helped someone she knew was a known felon purchase firearms, she is guilty under that statute. that is what they're going. the state, new york, class c felony which is lowest level felony, she filed a false application. these are crimes and al gigss that happened two years ago. fred is a very experienced former federal prosecutor. they know normally before they indictment someone they have their ducks in a row. not so in this case. the feds arrested her afterwards. we have sandy hook. columbine, rejuvenation of argument of second amendment. a pint of sweat will save a gallon of blood. they want to stop felons from having people directly or indirectly help them get weapons. >> that is not where the federal form says. that is not what the federal form says. are you person who will use and possess this firearm. she said yes. that is not true. that is false statement that is different crime. >> fred, she claimed she was the one that used firearms. that they were stolen. uma: guys. this is case we'll watch very c
on the most -- the least productive congress in history. we have 218 bills this congress has passed. the lowest number since this has been tracked. the lowest number before that was 333. let's go through the highlights of this congress. no farm bill. by the way, the debacle we saw on the senate on the u.n. disability treaty right in front of bob dole. that was just a bizarre moment, if you will. this fiscal cliff. three budget standoffs. i mean, this congress has been uniquely atrocious. >> tom? >> the fact is the system is rigged. 75% of the congressmen come from gerrymandered districts in which they are bulletproof. they only play to one constituency. they have a choir back home. and that's a huge part of the problem here. there's another reality in this town today. we need a lighter moment here. a lot of folks as i was coming into the office today said they have to get it done by kickoff time tonight. >> that's right. >> it's a good thing nbc moved the kickoff to primetime. it's very important. >> david, i think it's also important to go back to the president's argument, that, yo
it in mathematical terms. we have 218 bills this congress has passed. the lowest number since this has been tracked. the lowest number before that was 333. let's go through the highlights of this congress. no farm bill. by the way, milk prices will be going up. we talked about the milk cliff. by the way, the debacle we saw on the senate on the u.n. disability treaty right in front of bob dole. this fiscal cliff, three budget standoffs. i mean, this congress has been uniquely atrocious. >> tom? >> the fact is the system is rigged. 75% of the congressmen come from gerrymandered districts in which they are bulletproof. they only play to one constituency. there are no swing states. they don't go home and have a case because they've got a choir back home. and that's a huge part of the problem here. there's another reality in this town today. we need a lighter moment here. a lot of folks as i was coming into the office today said they have to get it done by kickoff time tonight. >> that's right. >> it's a good thing nbc moved the kickoff to primetime. it's very important. >> arguably, the redskins could
that the new congress can pass a deal but it's just hard to tell what's going to happen. >> what will the senate do if the president can't come up with an agreement? >> well, the president has already said that if there is no agreement today, he will ask senate majority leader harry reid to bring to a vote his plan and that plan is to save those bush-era tax cuts for the middle class and also to save those unemployment benefits. he says he wants a straight "up" or "down" vote and if there are republicans who do not want this plan, they can vote no but he says the pickup has a right to know who is holding up tax breaks for the middle class. >> getting interesting. the market was down all five days last week although it was off christmas and lord knows it will go down if they don't get this thing figured out. danielle nottingham live in d.c., thank you. >>> and remember, you can keep tabs on the "fiscal cliff" talks 24/7 by logging on to our cbs5.com website. >>> a new health problem for secretary of state hillary clinton. she has a blood clot. she is in the hospital in new york t
the inside game. let's make sure, we are go to come up on the least productive congress. 208 bills congress has passed, the lowest number since this has been tracked. the lowest before that was 333. let's go through the highlights. milk price is going up. we talked about the milk cliff. that debacle we saw in the senate on the u.n. disability treaty right in front of bob dole. that was a bizarre moment, if you will. this fiscal cliff, three budget standoffs. i mean, this congress has been uniquely atrocious. >> tom. >> the fact is that the system is rigged. 75% of the congressmen come from gerrymandered districts in which they're bulletproof. they only play to one constituencies. there are no swing states. they don't go home to have to prove their case because they've got a choir back home. that's a huge part of the problem. there's another reality in this town today. we need a lighter moment. a lot of folks as i was coming in today say they've got to get this done by kickoff time tonight. >> it's a good thing nbc moved kickoff time. >> david, i also think it's important to go back to the p
go over the fiscal cliff tomorrow night, congress could still pass a bill in a couple weeks. there's no guarantee they'll be able to come to an agreement quickly. ryan lizza is a correspondent for the new yorker. it's good to see you during the night. good to see you. >> thanks for having me. >> this uncertainty that americans are living with right now, do you think a deal can be reached by tomorrow? >> you know, i don't know. it's -- right now, as cnn's been reporting, it's up to mitch mcconnell and joe biden. those apparently are the two men where the entire negotiations have moved to. senator harry reid, who runs the senate, left tonight and told reporters on the way out, if you want to know if there's a deal, talk to biden and mcconnell. they have a history of reaching agreements, in the white house, biden is known as the mcconnell whisperer, and he got that reputation a couple years ago, when he was able to forge a budget agreement in 2010. maybe -- maybe there will be a breakthrough, but there are a lot of liberals and a lot of conservatives who will argue that no deal is bet
nation." >>> when the 112th congress closing up shop on january 3rd, they go home with the dubious distinction of the least productive and least popular congress of the modern era. in two years, this congress has managed to pass just 219 bills. that's the lowest tally since the 1940s. here with me now is nbc deputy political editor domenico montenegra. that sounds like a lot but that's not a lot compared to the past. >> in the modern era, the lowest we have seen. you know, all those things include all of those naming of post offices, you know, government buildings. so that is really a level of productivity we haven't seen in the modern era. and you know, the thing is this is just a key thing to divided government but usually people are able to compromise and get something done but there isn't that commitment this time around. you have people stuck in their ideological positions and don't see a lot passed and signed in to law. >> what about the approval rating for this congress? >> it is at an all-time low in the nbc/"wall street journal" poll. an all-time low. that is just, you kno
to anybody at all, the least of all congress. they were the ones who extended the bush tax cuts. originally passed back in 20,122,010 and 2012. for two years now, they have known the issue is looming and they chose to do nothing about it at all. but that is not the only thing that this lame-duck congress has to do for the end of the year. e farm bill passed last summer to help farmers hit by the drought has to be extended. into the next year, it must pass. if they do nothing, a gallon of milk goup $6 a gallon. it sure isn't going to help consumers. then there are restrictions on u.s. exporte, lower tariffs in good deal for them. awaiting the attention of lawmakers and again, they are not even paying any attention. and today, they are threatening to do something with the hurricane sandy relief bil the hurry up and get it done attitude of small-business owners. a 9-foot wave of flood water hit her store. she has picked up the pieces and opened her doors for business. despite losing all her equipment and furnishings, her insurance denied her claim and she got no help from the government. taloo
read, got about bills and productivity in this congress. >> yeah, so, only 219 bills passed into law in this congress, the lowest number that we've seen. and you know, but the thing that you have to understand, i think there's a lot of republicans who don't necessarily think that that's a bad thing. they think shrinking the government, making the government do less are actually good things. >> right, i don't think there's any question about that. we know there's an element of the republican party, ron paul, rand paul being the most visible, who think the less government does, the better. now, in that vain, i've been struck. david wasserman at the "cook political report" crunched the numbers on this, that there are 234 house republicans. 15 of them, 15 represent districts that president obama carried in 2012. given that, and we were talking with kelly about the fact that this has to come through the house at some point, that republicans still control. is there any reason for, politically speaking -- >> absolutely, right. >> -- not good of the country speaking, but politically speaking
unless this congress reaches and passes an agreement that keeps tankses from going up on the 98% who already have had to sacrifice during the recession, that extends unemployment, enables doctors to continue to care for their medicare beneficiaries, fixes the a.m.t., provides disaster recovery money to help our fellow americans, and passes a farm bill. democrats agreed last year to $1.5 trillion in cuts over the next 10 years, which are already in place. president obama offered several concessions. now republicans need to give up at least an equal amount on the revenue side. right now, definitely early in 2013, my constituents in the virgin islands need relief from the highest energy cost in the country and a fair medicaid match so everyone can have access to quality health care. whatever partisan differences we have and the republicans have with our president, let's set them aside in this difficult year comes to a close an work together to give our constituents a happy new year. i yield back. the speaker pro tempore: the gentlewoman yields back. for what purpose does the gentlewoman
. >>> happening now, congress is trying to get out of political gridlock in time to pass a bill before midnight. without one the new year rings in automatic tax hikes for almost all americans plus deep cuts in federal spending both houses took a break overnight while the president waits for something to sign. coming up at 8:00 this morning, senators will resume their efforts to reach a deal to avoid the cliff. last night senate leaders call on vice president biden to try and broker an ice breaker with house republican leaders. we will be getting an update from capitol hill throughout the morning. coming at 7:00 on "good morning america". >>> another health setback for secretary of state clinton she is being treat ford a blood clot at a new york hospital the clot was discovered yesterday during a follow-up exam connected to the concussion the secretary suffered after a fall earlier this month. a spokesperson would not state where the clot is located she cancelled two trip$sñú%s planned for next week. >>> two people were taken to the hospital after fire erupted in a home in the excelsior distri
health costs outpace economic growth. for nine years congress has passed doc fix funding to keep rates from being cut. this year it's being held hostage by the fiscal deadlock. without a fix, one physician group has calculated that most solo family doctors will see a $27,000 cut in terms of their revenues this year. a typical three-doctor practice will lose $80,000. the centers for medicare and medicaid notified doctors that they may not see a cut right away, because of a 14 to 29-day in terms of when they actually pay the bills after they are received. if congress reaches a deal by mid-month, they won't see a problem. the cms says they'll provide an update on january 11th. not knowing how much you're going to get paid for a couple of weeks as you're starting to see patients. there's bipartisan support to change the sgr. the sticky point is how. >> physicians are the second largest line item in medicare, behind hospitals. we do need to do something at some point. i'm just not sure a blunt cut costs approach is going to be successful. >> now, the cbo has estimated it could cost up to $3
, the american congress did after the war was pass a law requiring the united states to give up the cuba. one searches in vain for major world power to ever voluntarily departed from concord region. at the 20 century gun, a group of liberal elites who embrace the program loosely known as progressivism, challenging, criticized these four pillars. most were hostile to common-law with president woodrow wilson being the prime example of one who thought the constitution needed tv malleable and only the fittest should direct society. as america stood on the edge of american leadership, europe entered a decade in which it convinced itself war was impossible. the book, grand illusion, captured the view that europeans were too advanced, too sophisticated to fight each other. john maynard keynes a code this with his famous observation about how the world was tied together, how an englishman could order from his doorstep products from faraway lands and have them delivered to him. it's kind of an early version of thomas friedman's theory which claims an advanced country that used computers won't go to wa
. it's what the president has requested the congress do. we net to pass -- maintain the tax cuts for the middle class which will benefit 97% of small businesses. we need to keep pegging the alternative minimum tax to inflati inflation. we need to continue with the unemployment insurance. we'd love to see a continuation of the payroll tax cut, i don't think that's going to happen, and we need to put on hold the draconian spending cuts that are slated to happen in the next day or two. with that we would be able to keep money in the hands of america's small business owners and their customers. >> so small business owners as you're saying, you need specific and you'd like to see them get into this particular -- whatever negotiations are happening now initially, you want all of what you said in that? >> everything i just listed is supported by the vast majority of people in congress actually, and it's really unfortunate that the deal is being held up by sort of an ideological obsession with tax cuts on millionaires and on the upper 2% bracket. we've done expensive polling of small bus
is broken. we already know this is the least productive congress in history. something like 219 bills passed, at least 40 ins consequential, things like renaming post offices. can you just keep putting things off? at some point don't you have to deal with spending? >> we have to deal with spending and let me tell you when you look at the pentagon for example we could cut at least a hundred billion dollars and not even tamper with our national security. there are many ways to address spending. i serve on the appropriations committee with congressman flake. i understand exactly where he is going with this. when you talk about spending, who has paid, first of all, there has been an unequal investment in the cuts already. defense has not taken any huge cuts. domestic programs have. and so, yes. we have to address spending. but you have to have all things being equal. so we have to take the time to do this. that's why i was very concerned last year when this whole debt ceiling debate took place and when in fact sequestration, the huge u. automatic cuts were put into place. i knew then that they w
in the story of the do-nothing 112th congress. over the past few years, the number of bills passed has actually gone down. 460 in the 110th, 383 in the 111th. in this current 112th congress, just 219 bills. the lowest since they've been keeping records. it is possible we could see no action in the house until john boehner has the speaker's gavel back in hand on thursday. joining me now is ryan grim, eugene robinson. eugene, of those 219 bills, a whole pile of them were things like renaming post offices. jeff flight told me this morning this was a huge embarrassment. where could we go from here? >> i have no idea. it would be nice to go somewhere. but we're nowhere. you know, we talk about gridlock and divided government. and, in the past, there are people who divide a government that's good. when we have this sort of political gridlock, we get things done. that is no longer true. as a matter of fact, you have to be pessimistic. you see us lurching from cliff to cliff. if you see us getting passed this one, how can you be convinced we're actually passed it. there's going to be a debt ceiling com
in days on what the outlines of that deal might be. but i got to tell you any deal if it were to pass both houses of congress here in the last 12 hours before midnight would carry with it the seeds of further confrontation and not that much further down the road. maybe two, perhaps three months. let's take a look one more time at what is being discussed now. mitch mcconnell and joe biden talked into the wee hours until 12:30 last night and 6:30 this morning. $450,000 as the threshold for couples, $400,000 for individuals over which your taxes would go up about four percentage points. estate tax compromise. this is something democrats want as well because the estate tax is due to zoom up to 55% on estates more than $1 million if they're passed and nobody wants to see that happen. they are trying to work on a compromise. unemployment, insurance benefits. obviously something urgent for millions of people collecting and the long-term unemployed who have been unemployed for quite sometime. delaying that sequester. this is what i'm talking about. they're talking about delaying it perhaps three m
american families as possible from the tax increases democrats passed when they controlled congress and the white house. and it is that difference, mr. speaker, that caused american voters to give republicans in the 2010 and 2012 elections their largest number of house of representatives victories in more than six decades. mr. speaker, fighting democrat tax increases, now that's a mandate. the speaker pro tempore: the gentleman yields back. the chair recognizes the gentleman from missouri, mr. carnahan, for five minutes. mr. carnahan: thank you, mr. speaker. on this last day of the year and one of the last days of this 112th congress, we are awaiting a fiscal keel that will strengthen the fiscal health of this country. i want to take a few moments to reflect on my service here in the house of representatives and personally thank many who helped me get here and do the work of the people that i represent and love in the state of missouri. first, mr. speaker, deborah carnahan, bhife but also an accomplished attorney, former state and federal prosecutor. she's been the rock of our famil
from pennsylvania. sir, we appreciate you being here. i appreciate you will be leaving congress. you will not be able to vote on whatever is finally presented but i'm curious, does the senate deal have the potential if it gets through the senate to pass the house? >> i think it is going to pass the house. as i understand the parameters of the deal, the house i think would get a majority vote, probably substantial majority. i think it will pass the senate. it might still happen not tonight but tomorrow. that would still be the current session of congress. we're not getting a bill to the president tonight just because of the logistics of drafting the bill, presenting it to the senate and bringing it to the house but i think we'll get it done tomorrow. so we will have avoided a catastrophic event for the economy but we still could have done better with the timing. adam: let's point out some of the details what's in the work in senate. we understand the deal, at least for taxes which mitch mcconnell, said, taken care of. taxes going up for anybody making 400,000, single person, $450,000
fiscal cliff vote even if the senate does pass something tonight as you look at the senator from missouri speaking on the senate floor. that means the country is going over the fiscal cliff technically. as we have known congress to do before, you can have maneuvers by which they rewind the clock and if they go into tomorrow and they actually pass a piece of legislation they can rewind it to the point they need to be. some of the stipulations about the sequester and those are the across-the-board cuts do not kick in, until january 2nd so those are some of the things people are talking about. however, the biggest thing that everyone is talking about, are there really the votes to get this through? not only the senate, but, primarily, in the house of representatives? >> we know plan "b" which looked for tax hikes of earners over $1 million a year, so some of the framework, lowering to $450,000 joint filers so if you do not get $1 million passed in the house it is unlikely you will get $450,000 passed and the minority leader if the senate seemed near tears, senator mcconnell. it seems a mess.
's absolutely right, you're right. because to not go over the cliff, both houses of congress will have to pass something to avert that, and the president will have to sign it. so that is true. and that is why, as i said, politically, there aren't a lot of -- there are some people who aren't that upset about it, because it kind of makes the medicine go down a little bit easier when they vote on these cuts. having said that, we've heard from democrats in particular, for weeks now, that, you know, to sort of take a deep breath, that yes, it is called the fiscal cliff, but it is more of a slope, and particularly advantageous to members of congress who haven't got be their work done that january 1st is a federal holiday. so nothing is going to happen and there aren't going to be any real-world effects, especially when we're talking about the thing that really matters the most to a lot of people around here, just how the market is reacting. we saw the market go up today at news, seemingly at news that things were going well here. so, but technically, i think you're right, i think if the house doesn'
productive congress ever. i'm sure i don't need to tell you the numbers but it's 219 bills passed, some of them pretty much inconsequential. i think the previous low number of bills passed was 333. how do you think we got to this point? how did we get to the edge of the fiscal cliff and the least productive congress in history? >> the public is implicated in this. 2008 the public elected president obama, democratic house, democratic senate. 2010, a large number of people in the public changed their minds they got angry at us over health care, which was misunderstood, angry at us because we inherited a section that we weren't able to defeat because of their obstruction. in 010 -- in most democracies that would be it. we have a constitution under which it's called the staggered powers, checks and balances, the last three elections are there. the problem is in 2008 you had one group of people elected, in 2010, another. there wasn't simply the people in 2010 were conservative. very substantial number of the people elected as republicans in 2010 do not believe in governance. they do not unde
minority leader mitch mcconnell who said an agreement is very close and said congress should act on the tax portion of the deal. >> let's pass the tax relief portion now. let's take what's been agreed to and get moving. we can do this. we must do this. >> famous last words. i want to go to the capital now. joining us, the dynamic duo, the silver fox and mr. boatshoe. nbc's mike viqueira and luke russert. gentlemen, thanks for being here. our cnbc colleague john harwood is reporting that there will be no vote in the house tonight, and according to his sources, the u.s. will go over the fiscal cliff. what's your reaction to that? have you heard that -- >> we can confirm that. >> i love john harwood, but luke and i have been reporting the same thing, jonathan, so there. >> okay. so we're going over the cliff? >> apparently. that's the bad news. the good news is, the parameters of a deal are definitely there. as you described, jonathan, the sticking point remains this so-called trigger, the sequester. remember, they agreed upon it last summer in july and august of 2011 when they came to that bi
, we can sustain the level of outrage long enough for a task force to produce legislation that can pass? >> i think if it was ever going to happen, it will happen now. we're seeing things we have never seen the president do, and we're seeing thing in congress we haven't seen quite at this level. i mean, the president for the first time in his entire time in the white house is actually talking about gun control, period. that alone is progress. the only things he has done to date in the white house were to pass two laws that actually expanded gun rights. >> right. >> now he has a task force. it's led by joe biden. he has already convened it twice. he has met with law enforcement officials, with mayors, and more excitingly, you've got people on the hill already announcing bills that are going to put forward on day one of the new congress. we've got senator feinstein proposing an assault weapons ban. we've got someone else with a high capacity ammunition clips. think it's maybe lautenberg, and you have the president publicly saying now that he supports those bills. this is the most momentum
that that can be really damaging to the economy, even if congress does wrap up in the new year and turn around and pass something retroactively. >> okay, so, we have, and we're going to look at how we got here, but we have a lot of people who are coming on the set or coming on the show and just shaking their head with washington. they just can't -- it's like this -- it's stupid! it's completely stupid that we're sitting here talking about a deal that's not going to happen or a deal that could be withered down into something that puts off a deal, that just holds things off, because wasn't the deadline to actually avoid doing just that? wasn't it? >> sure. >> it all started about a decade ago with the $1.5 trillion bush tax cuts. republicans wanted to make them permanent, but a 2006 bill gave the cuts an expiration date. they were supposed to expire. the cuts were set to end in 2010, just as the country was recovering from the worst economic collapse since the great depression. though many democrats were notsa deal with republicans to extend those cuts for two more years. while his party argued
sides are very close to an overall deal. >> let's pass the tax relief portion now. >> keep in mind just last month republicans in congress said they would never agree to raise tax rates on the wealthiest of americans. obviously the agreement that's currently being discussed would raise those rates and raise them permanently. >> again even if the senate were to pass the deal tonight, the house does not plan to vote on it tonight, but that too could change. >>> does that technically mean we're going over the fiscal cliff? >> msnbc's luke russert is live to explain why some congressional aides are call it a fiscal slope and not necessarily a cliff. good evening, luke. >> good evening, how are you doing? >> great. >> what we're seeing is this idea that the house represents will not teenage are take many any compromise, the reason simply being there's no bill for them to vote on. they do believe they could vote on something as late as midmorning tomorrow, maybe even all the way to january 2nd. it's not a fiscal cliff so much as a fiscal slope. they believe if the markets think congress is wo
't the case. the law requires us to pass a budget. we have a budget act enacted back in the 1970's that requires the congress on an annual basis to lay out a plan for how we're going to spend the american taxpayers' money. and the reason we ended up with a budget control act back in august of 2011 is because we failed to pass a budget earlier in the year. three consecutive years in the united states senate we've not passed a budget. that isn't to say that our colleagues on the other side of the capitol, the house of representatives, haven't acted responsibly. you may disagree with how they did it, but at least they did it. they passed a budget. and the senate, of course, has not for now three consecutive years. so we went through this entire year; everybody knew this was coming. this isn't a surprise. this is the most forecast and foretold disaster that we've ever seen. as we approach december 31 and the deadline we're dealing with today, we knew that starting january 1 taxes were going to go up on all americans, at least all americans who have an income tax liability. and we knew
at a plan that would only provide about $27 billion in aid. that's less than half of what the senate passed over the weekend. they went for the $60 billion aid package and certainly things to get done. remember, new year's eve obviously the fiscal cliff deadli deadline. thursday at noon the deadline for the current congress and then they won't have to restart the clock on pending legislation. >> so i know -- >> i'm glad you mentioned that. let's look bigger picture. this is set to be the least productive congress in history. 219 bills in this congress. >> right. >> the next lowest level was 333 bills during the '90s. so tremendously unproductive congress. as you mentioned, the new one will be sworn in and not looking a whole lot different. is this the new normal, the do-nothing congress? >> i think until we can sort of clear out of these fiscal issues, whether that's tonight or tomorrow, whether that's mid march, it is very difficult for other issues to rise to the to because of the nation's fiscal health and the global economy is at risk. we're going to see the administration roll out a gu
national elections. let's go back to where they have been successful, 2006, 2008 the republican congress took a beating. rom emmanuel hatched a plan to go after republicans with conservative democrats, and they took over the majority. nancy pelosi was put in as speaker. they passed obama care and all of this other stuff on the nation. but then in 2010 those moderate democrats or conservative democrats were defeated by conservative republicans who ran as pro life, pro marriage and smaller government and less taxes and that we have now the most conservative house of representatives in modern history. those issues win when they come from the heart as you have shown and then you can talk about them. the problem is we've got some republicans that only want to talk about these things at election time only to check the boxes and not because it eminates from the heart. >> it is going to be an interesting time to watch and see if the message continues to permeate in the leadership of the party. you are right. if it does, and the pro life and pro family voters who are by the way always fiscal cons
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